By Ayomide Otitoju
Peter Obi, the presidential candidate of the Labour Party in the 2023 elections, called for increased transparency and accountability following the recent escalation of the Budget of Restoration to ₦54 trillion, attributed to reported revenue growth. In a statement posted on X (formerly Twitter) on Friday, Obi pointed out that while the revenue sources were detailed, there was an absence of a corresponding breakdown of expenditures to justify the significant budget increase.
Obi emphasized the necessity for Nigerians to be informed about how public funds are allocated and utilized. “For transparency and accountability’s sake, Nigerians need to know how the resources generated from them are being allocated to ensure they are judiciously spent on the country’s development and the well-being of the people,” he stated.
The former governor of Anambra pointed out that budgetary expenditures should be directed towards critical areas such as education, healthcare, security, and poverty alleviation to ensure a meaningful impact on citizens’ lives. He noted that Nigerians are still awaiting a detailed account of the execution and expenditures related to the Renewed Hope budget passed in December 2023.
Obi urged the government to provide clarity on how the funds from this budget have been used and called on the National Assembly to leverage this situation to obtain and publicly disclose the full details of the 2024 Renewed Hope budget.
He also urged lawmakers and government officials to prioritize transparency and accountability to maintain public trust as preparations commence for the 2025 Budget of Restoration. “Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” he asserted.
“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” Obi concluded.
His call for transparency comes just two days after President Bola Tinubu announced an increase in the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues from key government agencies. The budget adjustment was communicated in letters sent to both the Senate and the House of Representatives, read by Senate
